The Lab

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The raw liquidity offered by the Bank to the Customer. Typically presented as a single quote. The Customer may trade through this 'book', provided they submit orders in strict sequence from best price to worst. No individual piece of offered liquidity can be traded more than once.

Limit orders - The client provides the price associated with a requested quantity. This will either be the price of a given rung/side, or it will be a VWAP across multiple rungs. Typically the client will obtain a single fill for each individual request.

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